I cannot pay my credit card this week

mulevariations

Unfortunatley I can not pay my cc statement due Monday but can next week, I have paid the minimum payment, I'm not sure what to do next. 
My card is the barclaycard forward, the interest rate is 33.9% rep. 

elsien

If you’ve already  paid the minimum payment and can pay the rest next week, what is the concern? Not sure what it is you’re asking. 

mulevariations

I've never been in this position before, I just want to make sure nothing gets marked on my report and is there anything I need to do, I have a DD set up to take the full amount but it's going to bounce.

MorningcoffeeIV

Your files will show that you revolved a balance instead of clearing in full. 

You may also get a failed DD fee - unless your bank lets you go into an OD, authorised or otherwise, in which case there may be fees at that end and your files will show OD usage.

But if you have no money, then it's not worth worrying about.

diystarter7

Hi OP

Make sure you make a min payment - you can do that by passing the DD as a one off payment ie 'minium paymet.'

Call the ban and ask about the charges, but you will see them next bill

As we have never had any payment "bounce" not sure if charges for this. Again call the ban and ask how to avoid if possible

Thanks

JGB1955

mulevariations said:

I've never been in this position before, I just want to make sure nothing gets marked on my report and is there anything I need to do, I have a DD set up to take the full amount but it's going to bounce.

So... cancel the DD

km1500

Ask your bank for a short term overdraft ie 1 week or so to let the DD be paid. You will pay a lot less interest than if you don't pay the full amount on the CC

enthusiasticsaver

It is probably too late to amend the direct debit to take minimum if it is due Monday.  My preference would be to cancel the direct debit and pay the minimum now or on Monday and then pay the balance asap to minimise interest paid.  You do not want the DD to bounce as that will involve an unpaid dd fee I would assume. 

fatbelly

Pay the minimum payment

Cancel that direct debit and set one up for the minimum payment for future months

Pay what you can for this month and in future try to make a top-up payment for the full balance. 

grumbler

I think, if the DD is cancelled on the current account side, the CC provider will charge a 'returned payment fee' even if the minimum payment is made by other means.

E.g. https://www.supportcentre-rbs.co.uk/Searchable/1538189012/What-is-a-Returned-Payment-fee-on-my-credit-card.htm - £10.

diystarter7

grumbler said:

I think, if the DD is cancelled on the current account side, the CC provider will charge a 'returned payment fee' even if the minimum payment is made by other means.

E.g. https://www.supportcentre-rbs.co.uk/Searchable/1538189012/What-is-a-Returned-Payment-fee-on-my-credit-card.htm - £10.

Hi

You can change a DD as some are variable but best to contact the outfit you are paying as you may have to anyways depending on how it is set up but do this by a certain time to avoid any additional costs

As i said earlier, best to conact the outfit OP is paying


Thnaks